The rules for taxing interest and dividend income significantly changed with effect from 6 April 2016. This factsheet considers the new tax rates and the introduction of the Savings and Dividend Allowances.

Under self-assessment an individual is responsible for ensuring that their tax liability is calculated and any tax owing is paid on time. We summarise the rules and penalties for failing to comply with your obligations.

The Statutory Residence Test provides, through a series of tests, a definitive process to determine the UK residence status of any individual. That status applies for income tax, capital gains tax and inheritance tax purposes.

Venture Capital Trusts (VCTs) offer similar to breaks to individuals as the Enterprise Investment Scheme. They provide an opportunity to invest in unquoted trading companies via a VCT thus spreading the investment risk over a number of companies.

Spring Statement 2018

Details of the Spring Statement. Our summary focuses on the issues likely to affect you.